Soybean Futures rose about 0.5% in the New York trading session by supportive buyers around the Quarter’s DVAH which was confluent with the prior session’s swing lows and intraday DVAL. The market might be targeting the hourly swing highs to find absorption or long liquidation and could be seen as a selling level.

There are concerns about supply from Ukraine as disrupted shipping from the Black Sea and early frosts in Argentina’s farming belt could cause further damage. However, it is expected that farmers will plant the most acres on record this spring. This is giving the market a mixed view, leading it to the current balanced behavior on the hourly periodicity.